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DeKalb Times

Monday, April 29, 2024

Former state school employee Testone paid in $152K to teachers' pension fund, could collect $3.41M in retirement

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Former state school employee Anna Testone, who retired in May 2016, saved $151,980 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Testone would collect as much as $3.41 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Testone received $71,573 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Testone will have already received $221,225 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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